Securities Available-for-Sale (Tables)

6 Months Ended

Jun. 30, 2020

Available For Sale Securities [Abstract]

Schedule of amortized cost and fair value of securities available-for-sale

The amortized cost and fair value of securities available-for-sale, and the corresponding amounts of gross unrealized gains and losses, are as follows as of June 30, 2020 and December 31, 2019:

	June 30, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
U.S. Government-sponsored enterprises obligations	$	1,000	$	11	$	—		$	1,011
U.S. Government agency small business administration    pools guaranteed by SBA		2,620		61		—			2,681
Collateralized mortgage obligations issued by the FHLMC		772		15		—			787
Residential mortgage backed securities		2,684		75		—			2,759
Municipal bonds		35,620		1,402		(37	)		36,985
	$	42,696	$	1,564	$	(37	)	$	44,223

	December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
U.S. Government-sponsored enterprises obligations	$	9,000	$	11	$	(14	)	$	8,997
U.S. Government agency small business administration    pools guaranteed by SBA		2,760		—		(20	)		2,740
Collateralized mortgage obligations issued by the FHLMC		986		—		(6	)		980
Residential mortgage backed securities		3,186		4		(2	)		3,188
Municipal bonds		28,138		800		(58	)		28,880
	$	44,070	$	815	$	(100	)	$	44,785

Schedule of amortized cost and fair values of available-for-sale securities by contractual maturity

The amortized cost and fair values of available-for-sale securities at June 30, 2020 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
	(Dollars in thousands)
June 30, 2020
Due after one year through five years	$	—	$	—
Due after five years through ten years		1,000		1,011
Due after ten years		35,620		36,985
Total U.S. Government-sponsored enterprises    obligations and municipal bonds	$	36,620	$	37,996
U.S. Government agency small business pools guaranteed    by SBA		2,620		2,681
Collateralized mortgage obligations issued by the FHLMC		772		787
Residential mortgage backed securities		2,684		2,759
Total	$	42,696	$	44,223

Summary of gross unrealized losses and fair value for those investments with unrealized losses

The following is a summary of gross unrealized losses and fair value for those investments with unrealized losses, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, at June 30, 2020 and December 31, 2019:

	Less than 12 Months							More than 12 Months							Total
	Number of Securities		Fair Value		Unrealized Losses			Number of Securities		Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
June 30, 2020
U.S. Government sponsored enterprises    obligations		—	$	—	$	—			—	$	—	$	—		$	—	$	—
U.S. Government agency small business    administration pools guaranteed by    SBA		—		—		—			—		—		—			—		—
Collateralized mortgage obligations    issued by the FHLMC		—		—		—			—		—		—			—		—
Residential mortgage backed securities		—		—		—			—		—		—			—		—
Municipal bonds		14		4,793		(37	)		—		—		—			4,793		(37	)
		14	$	4,793	$	(37	)		—	$	—	$	—		$	4,793	$	(37	)
December 31, 2019
U.S. Government sponsored enterprises    obligations		2	$	1,995	$	(5	)		1	$	1,991	$	(9	)	$	3,986	$	(14	)
U.S. Government agency small business    administration pools guaranteed by    SBA		2		2,740		(20	)		—		—		—			2,740		(20	)
Collateralized mortgage obligations    issued by the FHLMC		1		980		(6	)		—		—		—			980		(6	)
Residential mortgage backed securities		1		999		(2	)		—		—		—			999		(2	)
Municipal bonds		8		4,052		(58	)		—		—		—			4,052		(58	)
		14	$	10,766	$	(91	)		1	$	1,991	$	(9	)	$	12,757	$	(100	)

Summary of sales proceeds and gross realized gains and losses on available for sale securities

Proceeds from sales, maturities, and gross realized gains and losses on available-for-sale securities were as follows for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended June 30,					Six Months Ended June 30,
	2020		2019			2020			2019
	(Dollars in thousands)
Proceeds from sales and maturities of securities available-for-sale	$	3,690	$	5,529		$	19,421		$	7,009
Gross realized gains		169		7			287			10
Gross realized losses		—		(9	)		(4	)		(20	)
Net realized gains (losses)	$	169	$	(2	)	$	283		$	(10	)